The US dollar shortage will be solved once effects of the administration’s economic reform efforts take hold , President Mohamed Muizzu has said.
The President took the opportunity to address the hot-button issue when he responded to a question by a member of the public on when his promise to install a US Dollar (USD) ATM at Maafushi and reclamation on the island will go into effect — the question was posed during the President’s Office’s ‘Ask the President’ series.
The President said the dollar shortage would be solved with economic reforms and economic expansion.
“Hopefully, when big projects start and investments start to increase, the [supply of US] dollars will be plentiful. Hopefully, dollar availability will be faster and convenient,” he said.
Muizzu, addressing the main questions, said that he would advise the Bank of Maldives (BML) of Maafushi residents’ need for a USD ATM, and that one should be installed as soon as possible this year.
Regarding the land reclamation, the President said that, while it was difficult to ascertain an exact date, it would be done as per his pledge and that due priority will be given to the project.